New Energy Finance - NEX Weekly Review

Each week I provide a review of the previous week’s performance of the WilderHill New Energy Global Innovation Index, symbol NEX. This information is provided by New Energy Finance. The NEX consists of about 90 stocks from 20 countries in seven sectors and is the bogey for the PowerShares Global Clean Energy Fund (PBD). These results are for the week ending on Friday.

For the week the NEX finished down 1.1%, bracketed by the NASDAQ, off 0.9% and the S&P500, down 1.2%. “Other renewables”, consisting mainly of small hydro power, was the top sector, gaining 3.6%. The largest sector, solar energy, was in positive territory with a gain of 1.1%.

Power storage was the worst performing sector, losing 8.9%. Two Japanese power storage powers, Sanyo Electric and GS Yuasa led the decline losing 13.9% and 12.9%. Belgian advance battery manufacturer, Unicore, was also off 13%. The energy efficiency sector lost 3.6%, led by U.S. companies Echelon, EnerNOC and Comverge.

Here are the top and bottom stock from the NEX for the week:

NEX top gainers since 29 Jul 2008
Canadian Hydro Developers KHD + 19.1%
Nordex NDX1 + 14.8%
Verenium VRNM + 12.7%
Yingli Green Energy YGE + 8.6%
Climate Exchange CLE + 7.9%

NEX top losers since 29 Jul 2008
Brasil Ecodiesel Industria e Comercio de Bioc ECOD3 - 30.6%
Echelon ELON - 21.1%
EnerNOC ENOC - 16.0%
Comverge COMV - 15.9%
Sanyo Electric 6764 - 13.9%

Note: I have no position in any security listed.

Posted in Categories: Canada, Contributor, External Research, Japan, Stocks, USA.

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